Re: Uncle Miltie, he dead
On Nov 18, 2006, at 4:59 PM, tfast wrote:
Do you have a ref for that quote from Friedman it would be very
useful to me.
By the way, the consequence of this fear-induced wage restraint was
that AG let the unemployment rate fall to the lowest level since
1969, 3.8%. Which tightened labor markets, led to broad real wage
increases, and brought the black poverty rate to its all-time low. Of
course it was all based on an unsustainable boom, but is the best
thing you can say about Greenspan.
Doug